Location Factors and their Importance
Building Bridges with the SGC between Singapore and Germany
Over the past decades, Germany and Singapore have cultivated a robust and multifaceted bilateral relationship, navigating significant political changes and an ever-evolving global landscape.
As the world faces unprecedented challenges, from political instability to disruptions in global trade, both nations have demonstrated remarkable resilience and adaptability.
While Singapore is at the forefront of innovation with its vision of Smart Nation and established itself as a business, finance, and logistics hub for the ASEAN region, Germany excels with innovative engineering solutions and advanced manufacturing technology.
Both countries share the goal of addressing the challenges of skilled labor shortages through innovation and education, as well as implementing sustainable energy solutions.
Their collaboration has not only strengthened economic ties but also fostered cultural and technological exchanges, enriching both societies.
This paper will focus on six critical economic location factors. For each country, we will be looking at three factors that were found to be relevant.
These factors represent the strengths of each country, highlighting areas where they excel and offering opportunities for mutual learning and collaboration.
The following economic location factors will be evaluated with a focus on Singapore:
- Smart Nation Initiative
- Digitalisation in the Administration
- Efficient Bureaucracy
For Germany, the following economic location factors will be evaluated:
- Smart Manufacturing
- GreenTech and Sustainability: Focus on Energy Efficiency
- Training and Education
The focus topics have been derived from the results of a survey conducted among SGC member companies, asking them which business location factors in Singapore and Germany they deem to be most important to further stimulate economic growth and stay competitive on a global scale in the next 10 years.
Therefore, this publication offers insights into current sentiments and highlights differences between the two countries, facilitating mutual learning.
By understanding these differences and leveraging each other’s strengths, Germany and Singapore can further enhance their strategic partnership.
Through sustained collaboration and innovative strategies, both countries can continue to thrive in an increasingly complex global environment.
Shirley Qi, President, SGC and Dr Tim Philippi, Executive Director, SGC